Dear All, Please guide me on my below query: My Father was working in ONGC and retired, in Last Year F.Y 2013-14 he has received his pension income and 1/3 part of the total amount under his Post Retirement Benefit Scheme Superannuation fund with LIC and ONGC has provided a consolidate Form-16 for the same where they have deducted TDS on total Income Including the amount received under PRBS scheme. Now we have already filed our ITR accordingly and also received an intimidation u/s 143(1), and someone told us that the income received from PRBS Superannuation scheme is exempted and we don’t have to pay tax on that, So my question is: Is the income received under PRBS Super annuation scheme is exempted? And if yes then please guide how do we claim the tax refund for the same?
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Is this the scheme you are talking about?
[If above link does not work
https://astokaraikal.com/retired/PRBS_Scheme_26112013.pdf]
Confirm that this is towards Gratuity and Pension and other benefits
We have limits for these [check S. 10, S 10(10A) 10(10AA))]
There could definitely be TDS liability and the scheme itself says so see para4.3.3 & 5.2.4
We don't know how much amount relates to what, so unless we have that we can't do calculations
Eg for Govt. employees commuted pension is exempted but un-commuted is taxable
For gratuity also we have limit
Call their helpdesk, have cited relevant sections
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